What’s the difference of FXTM MT4 and MT5 platforms? Which platform is better to trade Forex and CFDs?
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- Difference of MT4 and MT5 platforms
- What are the key differences of MT4 and MT5?
- How can I install MT4 and MT5 on Windows and MAC PC?
- Questions and Answers about FXTM MT4 and MT5
- Can I use both MT4 and MT5 trading platforms for trading?
- Will MT5 replace MT4 trading platform?
- What operating systems (OS) is required to run MT4 and MT5 platforms?
- I get “Unidentified developer – app cannot be opened” error message when I install MT4 or MT5 platforms.
- Can I install multiple MT4 or MT5 trading platforms in one device?
- Where can I find my login details for MT4 and MT5 platforms?
- Can I login to MT5 with my MT4’s login credentials?
- Can I run EAs of MT4 on MT5 trading platform?
Difference of MT4 and MT5 platforms
FXTM provides its traders with 2 types of trading platforms which are MT4 and MT5.
MT4 and MT5, which trading platform is better for traders?
See the comparison table of MT4 and MT5 trading platforms below.
|Trading Platforms||MT5 (MetaTrader5)||MT4 (MetaTrader4)|
|Account Types||Standard Account, ECN Account,ECN Zero Account, FXTM Pro Account||All Account Types|
|Execution Types||Instant Execution, Market Execution, Request Execution Mode, Exchange Execution Mode||Instant Execution, Market Execution, Request Execution Mode|
|Partial Order Filling Policies||Available||Unavailable|
|Order Fill Policy||Fill or Kill, Immediate, Cancel Return||Fill or Kill|
|Pending Order Types||Buy Limit, Buy Stop, Sell Limit, Sell Stop, Buy Stop Limit, Sell Stop Limit||Buy Limit, Buy Stop, Sell Limit, Sell Stop|
|Market Depth Window||Available||Unavailable|
|Number of Technical Indicators||38||30|
|Number of Graphical Objects||44||31|
|Number of Time-frames||21||9|
|Built-in Economic Calendar||Available||Unavailable|
|Email System with attachments||Available||Unavailable|
MT4 and MT5 trading platforms are almost the same in visual, but MT5 has variety options expanded.
MT5 is a newly developed trading platform and offers more flexibility for investors.
MT4 still remains the most popular trading platform, and it features all the basic tools traders need for trading.
Visit the page here for more information about MT4 and MT5 trading platforms.
You can also visit FXTM Official Website for more.
What are the key differences of MT4 and MT5?
Both FXTM MT4 and MT5 trading platforms remain the popular ones among investors, and the differences of trading platforms are not so clear in the eyes.
So what are the key differences of MT4 and MT5 trading platforms that you should know, and things that you should know about these platforms.
1. MT4 and MT5 require different login credentials
FXTM offers both MT4 and MT5 trading platforms, and each trading platform requires different login credentials.
For example, you cannot login to MT5 trading platform by using login credentials of MT4, and vice versa.
To login and trade on MT5, you need to open a MT5 trading account with FXTM in the Official Website.
FXTM offers various account types for both MT4 and MT5 trading platforms.
For the list and comparison of FXTM’s all account types, visit the page here.
You can open multiple accounts and manage them all under your profile.
2. MT4 and MT5 use different programming languages
Although both MT4 and MT5 trading platforms are developed by the same company, MetaQuotes, the programming languages used for these trading platforms are different.
For MT4, MQL4 is used. For MT5, MQL5 is used.
Due to the differences, you cannot run EAs (Expert Advisers) and Custom Indicators of MT4 on MT5, and vice versa.
MT4 has been long time the most popular trading platform, and there has been many EAs and customer indicators created in MQL4 language, which makes MT4 more suitable for some investors.
3. MT4 does not have built-in Market Depth window
The market depth window shows how much liquidity is available at each prices.
By referring to the market depth window, you can know the activity of the market and possible order sizes at that moment.
The market depth window is available only on MT5 trading platform, but not on MT4.
Some traders offers the built-in market depth window on MT4 web trader.
4. MT5 has more Technical Indicators, Graphical Objects and time frames
MT4 already have a number of basic and advanced trading tools, but MT5 has even more.
Comparing to the MT4, MT5 has more Technical Indicators, Graphical Objects and time frames.
If you are not satisfied with the trading tools available on MT4 trading platform, then MT5’s new tools might help you with the trading.
All MT4 and MT5’s trading tools are available for free and you do not need to install special additional software.
The installation of MT4 and MT5 platforms are also free in FXTM Official Website.
5. Only MT5 has Buy Stop Limit and Sell Stop Limit orders
The traditional MT4 trading platform has only 4 types of pending orders which are Buy Limit, Buy Stop, Sell Limit and Sell Stop.
MT5 has added 2 new pending orders which are Buy Stop Limit and Sell Stop Limit orders.
When customizing your orders on MT5, these pending orders come in handy, and supports you to manage your positions better.
How can I install MT4 and MT5 on Windows and MAC PC?
Yes, there are different installation processes for different OS.
Please follow the steps below to install MT4/MT5 to your PC.
For Windows PC
- Select the trading platform in the ‘Download Platforms’ section in MyFXTM and click ‘Download.
- Save the downloaded file and double click to open.
- Click ‘Run’ and allow the program to run.
- Read and accept the terms and conditions
- Click ‘Next’ to finalise the installation.
For MAC PC
- Select the trading platform in the ‘Download Platforms’ section in MyFXTM and click ‘Download.
- Save the downloaded file to your desktop and drag the MT platform icon to your Applications folder.
- Double click to open your platform from your Applications folder.
Mobile App – FXTM Trader
With FXTM, you can also use your smart phones or tablet to trade online.
FXTM provides the mobile app “FXTM Trader” which can be downloaded for free on “App Store” and “Google Play”.
Download the “FXTM Trader” to your Android, Tablet, iPhone or iPad and login to your account.
The FXTM Trader lets you manage your accounts and positions, monitor the markets at anytime and anywhere.
At your hands, you can access to over 250 financial markets easily.
“FXTM Trader” app includes the accounts overview, trading dashboard and also myFXTM.
To download “FXTM Trader”, go to FXTM Official Website.
You can find out more about FXTM Trader mobile app in the page here.
Questions and Answers about FXTM MT4 and MT5
MT4 and MT5 have very similar user interface and usability, but MT5 clearly has many more options and flexibility in many customization aspects.
You may have many more questions about FXTM MT4 and MT5 trading platforms, and still haven’t decided which one to use for trading.
We have listed some of the frequently asked questions about FXTM MT4 and MT5 platforms below.
1. Can I use both MT4 and MT5 trading platforms for trading?
Yes, you can.
FXTM MT4 and MT5 trading platforms are 2 separated and individual trading platforms.
To use both trading platforms for trading, you need to open 2 accounts, one for MT4 and another one for MT5.
Then download both FXTM MT4 and MT5 trading platforms and login with the provided login credentials.
For the list of FXTM’s all trading servers and addresses, visit the page here.
2. Will MT5 replace MT4 trading platform?
No, FXTM will continue offering both MT4 and MT5 trading platforms.
The developer of the trading platforms, MetaQuotes hasn’t also announced anything about discontinuing the support of MT4 trading platform yet.
You can continue using both MT4 and MT5 trading platforms to trade online.
3. What operating systems (OS) is required to run MT4 and MT5 platforms?
To run MT4 and MT5 trading platforms, you need a desktop computer with the following operating systems.
For Windows, Windows 7 and onwards.
For Mac, Mac OS X and onwards.
The status of your computer (device) and the internet connection directly affects the quality of chart updates and order execution on MT4 and MT5.
To improve the trading environment in general, you are recommended to prepare a fine environment.
4. I get “Unidentified developer – app cannot be opened” error message when I install MT4 or MT5 platforms.
To solve the issue of “Unidentified developer – app cannot be opened” error message, follow the steps below.
- Go to the “Security and Privacy” section in System Preferences.
- Click on the lock icon and enter your pc username and password.
- Click on the “General” tab and select “Anywhere” in the “Allow applications downloaded from” setting.
- Click on “Allow from anywhere” in the pop-up window that appears.
Then try to re-run the application.
If the above steps don’t solve the issue, please contact FXTM support team from the FXTM Official Website.
5. Can I install multiple MT4 or MT5 trading platforms in one device?
Yes, you can install multiple MT4 and MT5 trading platforms in one computer.
To do that, you only need to select another folder than the one you have selected, to install the second platform.
By selecting other folders, you can install trading platforms for the unlimited times.
Note that you cannot install multiple FXTM Trader mobile app into one mobile phone.
6. Where can I find my login details for MT4 and MT5 platforms?
The login credentials of MT4 and MT5 platforms are sent to your email address.
If you haven’t opened an account with FXTM, go to FXTM Official Website and signup for free.
Make sure that the login credentials you type in are correct as specified in your email.
7. Can I login to MT5 with my MT4’s login credentials?
No, you can’t login to MT5 trading platform with the login credential of MT4 trading platform.
MT4 and MT5 trading platforms are 2 different platforms and require different type of login credentials.
With FXTM, you can open unlimited number of live and demo trading accounts.
If you wish to use both MT4 and MT5 trading platforms, go to FXTM Official Website and open a live or demo trading account.
8. Can I run EAs of MT4 on MT5 trading platform?
No, you can’t run EAs made for MT4, on MT5 trading platform.
It is due to the difference of programming language, as MT4 uses MQL4 and MT5 uses MQL5 languages.
While MT5’s MQL5 language provides expanded options and flexibility then MQL4, there is still many EAs (Expert Advisers) created in MQL4 language as MT4 used to be and still remains the most popular trading platform in the world.
For the list of FXTM’s all bonus promotions and trading contests, visit the page here.